I took my 401k instead of rolling it over and paid the 10% penalty, do I get to count that as part of the taxes I paid on my tax forms?
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I took my 401k instead of rolling it over and paid the 10% penalty, do I get to count that as part of the taxes I paid on my tax forms?
Wouldn't that be nice?
Yes, you count it as part of taxes you paid.
You will report 401K withdrawal as income and attach form 5329.
Read Your U.S. Tax Return: Elective Deferrals 401(k) Plans
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